On March 4, the Open Forum on the Northern Sea Route Association, together with a delegation from the International Congress of Industrialists and Entrepreneurs (ICIE), held an international conference and signing ceremony for a Memorandum of Understanding (MOU) on the establishment of a base port for the Northern Sea Route (NSR) in Ulsan at the Diamond Hall of the Lahan Hotel in the Donggu District of Ulsan.

The event was attended by six members of the ICIE delegation who visited Ulsan in person, as well as four Russian experts who participated in the entire event and international conference via videoconference. Representatives from industry and academia, as well as local council members, attended the event on the South Korean side, where they exchanged views on the potential for cooperation along the NSR and the role of Ulsan. Member of Parliament Kim Sang-wook also attended.

The Lahan Hotel, where the conference was held, is located directly opposite the HD Hyundai Heavy Industries shipyard, a company boasting world-class shipbuilding technologies and a maritime industrial base. The delegation toured the production facilities and exchanged views on potential cooperation in shipbuilding technologies and industries related to the NSR.

A representative of the Northern Sea Route Open Forum stated, "It is expected that the discussion on Ulsan's industrial strategy related to the NSR and international cooperation will be further expanded through this event," adding, "We plan to continue building an international cooperation network related to the NSR and discussing industrial and political issues."

The Northern Sea Route is a maritime route connecting Europe and Asia along the Arctic Ocean. It is considered a strategic logistics route, offering shorter shipping distances than the traditional route through the Suez Canal. Recent climate change, which is leading to extended periods of ice melt, has increased the potential for the NSR to be used, and it is attracting attention as a new axis of maritime logistics in the global shipping and energy industries.

Signing of a Memorandum of Understanding between the Open Forum on the Northern Sea Route and the International Congress of Industrialists and Entrepreneurs (ICIE)

Meanwhile, on this day, a signing ceremony of the Memorandum of Understanding (MOU) for cooperation on the NSR took place between ICIE and the Open Forum on the Northern Sea Route Association.

This agreement aims to establish a cooperation system to establish a NSR hub port in Ulsan and expand international cooperation in related industries, such as shipbuilding, shipping, energy, and logistics. Under the agreement, both organizations agreed to exchange technological, political, and industry information and implement various joint projects, including joint research and development of policy proposals, promotion of demonstration projects, and holding international forums and seminars.

In addition, it is planned to gradually expand the base of international cooperation related to the SME through the training of professional personnel, the creation of an industrial cooperation network, and the management of a platform for the exchange of research and knowledge.

At an international conference held following the signing of the agreement, experts from Russia and Korea presented reports on the current state and prospects of the NSR, as well as the strategic role of Ulsan.

Yevgeny Rusetsky, Deputy Chairman of the ICIE and member of the Asia-Pacific Chamber of Commerce and Industry, presented the current state of the NSR's development and Russian policy directions, explaining the need to expand cooperation along the NSR. During subsequent presentations by Korean experts, Professor Lee Dong-hwa and Professor Woo Se-jin presented Ulsan's shipbuilding and maritime industrial base, its potential connections to the NSR, and political and industrial strategies for creating a hub port in Ulsan.